PENG (NASDAQ:PENG) Trading Down 0.8% – Here’s Why

PENG (NASDAQ:PENG) fell 0.8% on Tuesday . The stock traded as low as $17.86 and last traded at $17.93. 132,295 shares traded hands during trading, a decline of 87% from the average session volume of 1,043,123 shares. The stock had previously closed at $18.08.

Analyst Ratings Changes

PENG has been the subject of a number of research analyst reports. The Goldman Sachs Group started coverage on PENG in a report on Friday, November 1st. They issued a “buy” rating and a $21.00 price target for the company. Stifel Nicolaus cut their price target on PENG from $32.00 to $27.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Barclays lowered their target price on shares of PENG from $27.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Citizens Jmp upgraded shares of PENG to a “strong-buy” rating in a research note on Monday, November 18th. Finally, JMP Securities began coverage on shares of PENG in a research note on Monday, November 18th. They issued an “outperform” rating and a $23.00 price objective on the stock. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $23.60.

PENG Stock Up 0.1 %

The company has a market capitalization of $964.02 million, a P/E ratio of -17.93 and a beta of 1.70. The company has a current ratio of 2.65, a quick ratio of 2.19 and a debt-to-equity ratio of 1.65.

PENG (NASDAQ:PENG) last announced its quarterly earnings data on Tuesday, October 15th. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.04). The business had revenue of $311.15 million during the quarter, compared to analysts’ expectations of $325.00 million. PENG had a negative net margin of 4.48% and a positive return on equity of 8.05%. Equities research analysts expect that PENG will post 1.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Joseph Gates Clark sold 2,264 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $17.50, for a total transaction of $39,620.00. Following the sale, the insider now owns 95,999 shares of the company’s stock, valued at $1,679,982.50. The trade was a 2.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.40% of the stock is currently owned by corporate insiders.

About PENG

SMART Global Holdings, Inc, a memory-focused company, engages in the designing and development of enterprise solutions in the United States, China, Europe, and internationally. It operates through Memory Solutions, Intelligent Platform Solutions, and LED Solutions segments. The company offers dynamic random access memory modules, solid-state and flash storage, and other advanced memory solutions for networking and telecom, data analytics, artificial intelligence and machine learning applications; and supply chain services including procurement, logistics, inventory management, temporary warehousing, programming, kitting, and packaging services.